TPG boosts offer for Australia’s Fairfax Media, shares leap to six-year high

May 15, 2017 By Jamie Freed SYDNEY (Reuters) – U.S. buyout firm TPG Capital Management on Monday raised its cash bid for Fairfax Media Ltd , offering A$2.76 billion ($2.04 billion) for the struggling Australian publisher and sending its shares to a six-year high. The fresh offer from TPG [TPG.UL] and partner Ontario Teachers’ Pension Plan Board (OTPP) would allow shareholders to cash out completely rather than leaving them with scrip in a piecemeal collection of small assets including radio, regional newspapers and television streaming. “It’s better to have a…

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